Sea Freight Q1

After an unstable year of 2016 due to declined demand and massive consolidation between carriers, 2017 turned out to be more a calm year for the global sea freight market. To tackle the lingering overcapacity and stop damaging competition, shipping alliances had been reshaped into 3 groups as of Q1 2018:

• 2M – Maersk (Hamburg Sued) and MSC
• Ocean Alliance – CMA CGM (APL), COSCO (OOCL), EVERGREEN
• The Alliance – Yang Ming, Hapag-Lloyd and Ocean Network Express (NYK, K LINE, MOL)

We can see increase of demand from June to September. In terms of ocean freight rate, it is expected to be uncertain because of continuous impact from the dynamic trade environment, capacity adjustment after forming 3 major shipping groups, as well as the China factor. Nevertheless, GW is ready for it and will continue to provide reliable services to our valued customers.